StockNews.com Begins Coverage on Nevro (NYSE:NVRO)

StockNews.com started coverage on shares of Nevro (NYSE:NVRO - Free Report) in a research report report published on Saturday morning. The firm issued a hold rating on the medical equipment provider's stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised Nevro from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $6.00 to $5.85 in a report on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Nevro from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. Morgan Stanley lowered shares of Nevro from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $9.00 to $4.00 in a research report on Monday, December 2nd. Citigroup reduced their price target on shares of Nevro from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price target on Nevro from $4.00 to $5.85 and gave the stock a "hold" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Nevro presently has a consensus rating of "Hold" and an average target price of $6.43.

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Nevro Stock Performance

NVRO traded up $0.02 on Friday, reaching $5.79. The company had a trading volume of 631,758 shares, compared to its average volume of 713,108. The company has a quick ratio of 3.76, a current ratio of 5.02 and a debt-to-equity ratio of 0.67. Nevro has a 1 year low of $3.17 and a 1 year high of $14.70. The stock has a market capitalization of $221.98 million, a PE ratio of -3.06 and a beta of 0.94. The stock has a 50-day moving average price of $5.43 and a 200-day moving average price of $4.94.

Nevro (NYSE:NVRO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.15. Nevro had a negative return on equity of 23.52% and a negative net margin of 16.54%. The business had revenue of $105.55 million during the quarter, compared to the consensus estimate of $102.61 million. As a group, research analysts forecast that Nevro will post -2.44 EPS for the current fiscal year.

Institutional Trading of Nevro

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Nevro in the 3rd quarter valued at about $69,000. Charles Schwab Investment Management Inc. raised its position in shares of Nevro by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 303,675 shares of the medical equipment provider's stock valued at $1,698,000 after buying an additional 11,369 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Nevro by 1,290.4% during the third quarter. Quantbot Technologies LP now owns 14,418 shares of the medical equipment provider's stock valued at $81,000 after buying an additional 13,381 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Nevro by 171.3% during the third quarter. BNP Paribas Financial Markets now owns 135,145 shares of the medical equipment provider's stock valued at $755,000 after buying an additional 85,324 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Nevro by 130.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider's stock worth $5,590,000 after acquiring an additional 566,462 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.